The Ministry of State Security in China has issued a warning about the potential misuse of biometric data, specifically highlighting foreign companies that offer cryptocurrency incentives in exchange for iris scans, in a move that appears to target Worldcoin. This warning was posted on the ministry's official WeChat account.
The ministry cited a case where a foreign company rewarded users with cryptocurrency for scanning their irises worldwide. The biometric data was then transferred abroad, prompting concerns over personal data privacy and national security. Although the company was not named, the description bears a close resemblance to Worldcoin, a crypto project co-founded by Sam Altman, CEO of OpenAI, which aims to build a global identity network by exchanging tokens for iris scans. Worldcoin has already faced regulatory backlash in several countries, including Germany, France, and Kenya, due to concerns over informed consent, data storage, and surveillance capabilities.
China's advisory takes it a step further by referencing instances where stolen facial data has allegedly been used by foreign intelligence services to create deepfakes, enabling spies to gain access to secure areas. The value of Worldcoin's WLD token has dropped by 4% to $0.93, according to market data. Reports also indicate that Worldcoin's network is in discussions with Visa to develop a wallet for stablecoin payments.